Card Dispute Management System
Vuram’s Card Dispute Management System is responsible for handling the entire dispute cycle,including write-offs, representations and charges. The application allows the bank officials to gather all the details they need in a dispute and to add documentation to the situation. In order to determine the appropriate action in the dispute, each transaction is examined by the Dispute Resolution Team.
Disputes and chargeback processing is a labor-intensive and expensive process for many organizations for financial services. A quicker card dispute card settlement can be accomplished with this method, which can result in increased profitability on the bank’s card portfolio. It also helps to minimize human error and mismanagement, thus reducing the rate of attrition of customers.
Assignment of any transaction to a Compliance team for special investigation to decide either to decline it based on the level of risk, fraudulent rules or proceed with write-off.
Restart any transaction or call back the action taken on any transaction.
Ability to run through all stages of the charge-back process that includes representment, pre-arbitration and arbitration.
Generation of a settlement report to aid banks in filing the total settlement summary on write-off across different branches.
Support for dispute initiation via multiple means: inbound phone call to an agent, via chat or direct branch walk-in and provides a platform to add notes and upload documents related to the dispute.
The system also has an ability to allocate any transaction for different actions and track it via the allocation history with detailed information.